Founders Financial Alliance LLC Has $1.10 Million Stake in Caterpillar Inc. (NYSE:CAT)

Founders Financial Alliance LLC lowered its position in Caterpillar Inc. (NYSE:CAT) by 3.3% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 3,288 shares of the industrial products company’s stock after selling 111 shares during the period. Founders Financial Alliance LLC’s holdings in Caterpillar were worth $1,095,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in CAT. Canada Pension Plan Investment Board raised its stake in Caterpillar by 306.9% during the first quarter. Canada Pension Plan Investment Board now owns 407,677 shares of the industrial products company’s stock worth $149,385,000 after acquiring an additional 307,479 shares in the last quarter. Altshuler Shaham Ltd boosted its holdings in Caterpillar by 3,319.7% during the second quarter. Altshuler Shaham Ltd now owns 275,011 shares of the industrial products company’s stock worth $91,606,000 after buying an additional 266,969 shares during the last quarter. Swedbank AB bought a new position in shares of Caterpillar during the 1st quarter valued at about $97,042,000. Capital International Investors lifted its position in Caterpillar by 99.9% in the 1st quarter. Capital International Investors now owns 488,660 shares of the industrial products company’s stock valued at $179,060,000 after acquiring an additional 244,253 shares in the last quarter. Finally, National Bank of Canada FI boosted its position in shares of Caterpillar by 104.6% during the second quarter. National Bank of Canada FI now owns 391,428 shares of the industrial products company’s stock worth $128,768,000 after buying an additional 200,134 shares during the period. Institutional investors and hedge funds own 70.98% of the company’s stock.

Caterpillar Stock Performance

Shares of CAT opened at $390.91 on Tuesday. Caterpillar Inc. has a 12 month low of $223.76 and a 12 month high of $397.22. The stock has a fifty day moving average price of $347.54 and a 200-day moving average price of $346.82. The company has a current ratio of 1.28, a quick ratio of 0.78 and a debt-to-equity ratio of 1.39. The firm has a market cap of $191.18 billion, a PE ratio of 17.65, a P/E/G ratio of 1.73 and a beta of 1.10.

Caterpillar (NYSE:CAT) last released its quarterly earnings data on Tuesday, August 6th. The industrial products company reported $5.99 earnings per share for the quarter, beating analysts’ consensus estimates of $5.53 by $0.46. Caterpillar had a return on equity of 59.88% and a net margin of 16.58%. The business had revenue of $16.69 billion during the quarter, compared to analyst estimates of $16.91 billion. During the same quarter last year, the business posted $5.55 EPS. The company’s revenue was down 3.6% on a year-over-year basis. Equities research analysts predict that Caterpillar Inc. will post 21.91 earnings per share for the current fiscal year.

Caterpillar announced that its board has initiated a share buyback plan on Wednesday, June 12th that authorizes the company to buyback $20.00 billion in shares. This buyback authorization authorizes the industrial products company to repurchase up to 12.7% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s management believes its shares are undervalued.

Insider Activity

In other Caterpillar news, Director Gerald Johnson acquired 100 shares of the firm’s stock in a transaction that occurred on Wednesday, September 4th. The shares were purchased at an average cost of $338.59 per share, for a total transaction of $33,859.00. Following the completion of the acquisition, the director now owns 2,842 shares of the company’s stock, valued at approximately $962,272.78. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, Director Gerald Johnson acquired 100 shares of the business’s stock in a transaction dated Wednesday, September 4th. The shares were acquired at an average price of $338.59 per share, with a total value of $33,859.00. Following the completion of the transaction, the director now owns 2,842 shares of the company’s stock, valued at $962,272.78. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Cheryl H. Johnson sold 2,975 shares of the stock in a transaction on Thursday, August 22nd. The shares were sold at an average price of $342.48, for a total value of $1,018,878.00. Following the completion of the transaction, the insider now directly owns 15,615 shares in the company, valued at approximately $5,347,825.20. The disclosure for this sale can be found here. Insiders sold 7,668 shares of company stock worth $2,665,760 over the last ninety days. Corporate insiders own 0.33% of the company’s stock.

Analyst Upgrades and Downgrades

CAT has been the topic of several recent analyst reports. Citigroup initiated coverage on Caterpillar in a research report on Wednesday, June 26th. They set a “buy” rating and a $380.00 price target on the stock. StockNews.com lowered Caterpillar from a “buy” rating to a “hold” rating in a report on Tuesday, September 24th. Evercore ISI decreased their price target on Caterpillar from $338.00 to $321.00 and set an “in-line” rating on the stock in a research report on Monday, August 19th. Barclays raised their price target on Caterpillar from $315.00 to $335.00 and gave the stock an “equal weight” rating in a research report on Wednesday, August 7th. Finally, Raymond James assumed coverage on Caterpillar in a report on Friday, June 28th. They issued a “market perform” rating for the company. Two analysts have rated the stock with a sell rating, ten have given a hold rating and seven have issued a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $339.94.

About Caterpillar

Caterpillar Inc manufactures and sells construction and mining equipment, off-highway diesel and natural gas engines, industrial gas turbines, and diesel-electric locomotives in worldwide. Its Construction Industries segment offers asphalt pavers, compactors, road reclaimers, forestry machines, cold planers, material handlers, track-type tractors, excavators, telehandlers, motor graders, and pipelayers; compact track, wheel, track-type, backhoe, and skid steer loaders; and related parts and tools.